SouthState Corporation Acquires Independent Bank Group, Inc.

First Bancorp Acquires GrandSouth Bancorporation

January 1, 2023

Financial Services

First Bancorp (parent of First Bank) completed its acquisition of GrandSouth Bancorporation (the parent of GrandSouth Bank) effective January 1, 2023 in an all-stock merger (0.91 shares of First Bancorp per GrandSouth share). The deal expands First Bank's presence in South Carolina by adding GrandSouth's eight branches and is expected to accelerate First Bancorp's South Carolina growth, creating a combined company with approximately $12 billion in assets and 118 branches.

FB Financial Acquires Southern States Bancshares

June 30, 2025

Financial Services

FB Financial Corporation (parent of FirstBank) completed its merger with Southern States Bancshares, Inc., with Southern States shareholders receiving 0.800 shares of FB Financial common stock per share. The transaction implies an approximate equity value of $368.4 million and expands FB Financial's footprint into Alabama and Georgia; Southern States reported $2.9 billion in total assets as of March 31, 2025.

BankFirst Capital Corporation Acquires The Magnolia State Corporation and Magnolia State Bank

July 1, 2025

Financial Services

BankFirst Capital Corporation completed its acquisition of The Magnolia State Corporation and its wholly owned subsidiary Magnolia State Bank effective July 1, 2025. The deal expands BankFirst’s branch network to 52 offices across Mississippi and Alabama and increases pro forma assets to approximately $3.2 billion, with gross loans of about $2.2 billion and deposits of roughly $2.8 billion; several Magnolia executives have joined BankFirst in regional leadership roles.

Independent Bank Corp. Acquires Enterprise Bancorp, Inc.

July 1, 2025

Financial Services

Independent Bank Corp. (parent of Rockland Trust) completed its acquisition of Enterprise Bancorp, Inc., with legal closing effective July 1, 2025; Enterprise Bank has been merged into Rockland Trust and Enterprise Bancorp shareholders received a mix of Independent common stock and cash. The parties will convert core products and customer accounts over the weekend of October 11, 2025, and Enterprise founder George Duncan will serve in a consultative role for one year to support integration.

Cadence Bank Acquires Industry Bancshares, Inc.

July 1, 2025

Financial Services

Cadence Bank (NYSE: CADE) completed its acquisition and merger of Industry Bancshares, Inc., the holding company for six Texas community banks, effective July 1, 2025 after receiving regulatory and shareholder approvals. The transaction expands Cadence's branch footprint and deposit base across Texas, bringing Industry Bancshares' approximately $4.4 billion in assets and its network of branches into Cadence's platform.

MidWestOne Financial Acquires Denver Bankshares (Bank of Denver)

September 27, 2023

Financial Services

MidWestOne Financial Group, Inc. entered into a definitive agreement to acquire Denver Bankshares, Inc., the parent company of the Bank of Denver, for $32.6 million in cash. The deal (expected to close Q1 2024) adds approximately $271.5 million in assets, $198.0 million in loans and $242.0 million in deposits and is intended to accelerate MidWestOne's expansion and scale in the Denver market.